کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
957369 928523 2007 10 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Higher-order generalizations of Arrow-Pratt and Ross risk aversion: A comparative statics approach
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Higher-order generalizations of Arrow-Pratt and Ross risk aversion: A comparative statics approach
چکیده انگلیسی
We analyze comparative risk aversion in a new way, through a comparative statics problem in which, for a cost, agents can shift from an initial probability distribution toward a preferred distribution. The Ross characterization arises when the original distribution is riskier than the preferred distribution and the cost is monetary, and the Arrow-Pratt characterization arises when the original distribution differs from the preferred distribution by a simple mean-preserving spread and the cost is a utility cost. Higher-order increases in risk lead to higher-order generalizations, and the comparative statics method yields a unified approach to the problem of comparative risk attitudes.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 136, Issue 1, September 2007, Pages 719-728
نویسندگان
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